Equity Residential, a Chicago-based real estate investment trust, has reported the issuance of $650 million in aggregate principal amount of exchangeable senior notes due 2026.The notes, which bear a coupon of 3.85%, were offered through a subsidiary, ERP Operating LP, and will be senior unsecured obligations of ERP. Equity Residential said the underwriters were granted an option to buy up to $50 million in additional notes to cover any overallotments. Merrill Lynch & Co. acted as the book-running manager for the offering. Equity Residential, an apartment REIT, can be found online at http://www.equityresidential.com.
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